BLUEPRINT

Advertiser Disclosure

Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy.

Online mortgage lenders are more likely than brick-and-mortar lenders to offer lower fees and interest rates as they have fewer overhead expenses. It can also be easier to compare mortgage rates from online lenders for your desired home loan, whether it’s to buy a house, refinance or tap into your existing equity.

Here are the best online mortgage lenders of 2024.

Best online mortgage lenders

Why trust our mortgage experts

Our team of experts evaluated hundreds of mortgage products and analyzed thousands of data points to help you find the best fit for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.

  • 17 mortgage lenders reviewed.
  • 170 data points analyzed.
  • 6-stage fact-checking process.

Compare the best online mortgage lenders

INTEREST RATESMAX DTI RATIOTIME TO CLOSE
Below national average50%3 to 6 weeks
INTEREST RATESBelow national average
MAX DTI RATIO50%
TIME TO CLOSE3 to 6 weeks
Below national average45%
30 to 45 days
INTEREST RATESBelow national average
MAX DTI RATIO45%
TIME TO CLOSE
30 to 45 days
Below national averageDoes not disclose30 to 40 days
INTEREST RATESBelow national average
MAX DTI RATIODoes not disclose
TIME TO CLOSE30 to 40 days
Below national average36%Does not disclose
INTEREST RATESBelow national average
MAX DTI RATIO36%
TIME TO CLOSEDoes not disclose
Below national average50%A few weeks to a few months
INTEREST RATESBelow national average
MAX DTI RATIO50%
TIME TO CLOSEA few weeks to a few months

Methodology

Our expert writers and editors have reviewed and researched multiple companies to help you find the best online mortgage lender. Out of all the lenders considered, the five that made our list excelled in areas across the following categories (with weightings): loan cost (30%), eligibility and accessibility (20%), customer service experience (20%) and ease of application (30%).

Within each major category, we considered several characteristics, including minimum APR, maximum allowed DTI ratio and minimum credit score requirements. We also evaluated each provider’s customer support options, borrower perks and features that simplify the borrowing process—like time to close and preapproval time.

Why some lenders didn’t make the cut

Of the mortgage lenders that we reviewed, only a fraction made the cut. The lenders that didn’t have high enough scores to be included received lower ratings mostly due to having a lack of transparency around credit score and DTI requirements as well as preapproval and closing timelines. Some of the excluded lenders also have limited customer service options and bad customer reviews.

Frequently asked questions (FAQs)

You can find online mortgage lenders by researching home loan companies online. It’s smart to compare rates, terms and fees from several lenders, including online and more traditional mortgage lenders like banks and credit unions, to choose your best loan option.

Most online lenders offer conventional, FHA and VA purchase loans as well as mortgage refinancing. However, you’ll usually need to visit a brick-and-mortar lender for construction loans, USDA loans and HELOCs.

Online lenders can be more efficient than banks as they tend to utilize better technology to keep costs low and process applications faster. As a result, it’s possible to pay fewer fees when you buy a home or refinance through an online lender or a small broker.

In general, the underwriting practices are similar between online lenders and banks, but each platform has its own eligibility standards. Additionally, all lending institutions fund their mortgages from the same sources, such as Fannie Mae, Freddie Mac or Wall Street hedge funds that buy mortgages so lenders can continue issuing new loans.

Yes, online home loan providers are trustworthy as they have similar borrower requirements as banks. But it’s also possible to pay less interest and fees than you would with a brick-and-mortar bank as online lenders tend to have fewer operating expenses.

The online application experience is easy and secure. You can upload your required documents and talk to a licensed loan advisor by email, live chat or phone. However, you may prefer an in-person experience if you have a complex situation or desire hands-on help.

Editor’s Note: This article contains updated information from previously published stories:

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Josh Patoka

BLUEPRINT

Josh became a full-time personal finance writer in 2015 after serving as a transportation operations supervisor for seven years. He draws from his own money management experience of saving for long-term goals, paying off debt, and career changes. His writing has been regularly featured in Forbes Advisor, Fox Business, and several award-winning personal finance websites.

Jamie Young

BLUEPRINT

Jamie Young is Lead Editor of loans and mortgages at USA TODAY Blueprint. She has been writing and editing professionally for 12 years. Previously, she worked for Forbes Advisor, Credible, LendingTree, Student Loan Hero, and GOBankingRates. Her work has also appeared on some of the best-known media outlets including Yahoo, Fox Business, Time, CBS News, AOL, MSN, and more. Jamie is passionate about finance, technology, and the Oxford comma. In her free time, she likes to game, play with her two crazy cats (Detective Snoop and his girl Friday), and try to keep up with her ever-growing plant collection.